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Home Aptitude Compound Interest Comments

  • Question
  • Sharon Stone deposits $500 at the beginning of each 3 months in an account earning 10% compounded quarterly. Determine how much money she has after 25 years


  • Options
  • A. 22681.19
  • B. 23456
  • C. 44577
  • D. 25685

  • Correct Answer
  • 22681.19 

    Explanation

     

     

    S=R[(1+i)^n-1)/i]

  • Tags: Bank Exams, Bank PO

    Compound Interest problems


    Search Results


    • 1. For S = $21,000, payments (R) of $1500 at the end of each 6-month periodi= 10% compounded semi-annually. Find the minimum number of payments to accumulate 21,000.

    • Options
    • A. 10
    • B. 11
    • C. 12
    • D. 13
    • Discuss
    • 2. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

    • Options
    • A. 2
    • B. 3
    • C. 4
    • D. 5
    • Discuss
    • 3. The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 4% per annum is Re. 1. The sum (in Rs.) is:

    • Options
    • A. 625
    • B. 635
    • C. 645
    • D. 655
    • Discuss
    • 4. Sharon Stone deposits $2000 at the end of each year in an account earning 10% compounded annually. Determine how much money she has after 25 years. How much interest did she earn?

    • Options
    • A. 146694.12
    • B. 13452
    • C. 18232
    • D. 15627
    • Discuss
    • 5. Example:Given an amount needed(future value) of $3300 in 4 years at an interest rate of 11% compounded anually,Find the present value and the amount of interest earned

    • Options
    • A. 1126.19
    • B. 1237
    • C. 2863
    • D. 1892
    • Discuss
    • 6. What lump sum deposited today would allow payments of $2000/year for 7 years at 5% compounded annually?

    • Options
    • A. 11572.71
    • B. 11876
    • C. 189756
    • D. 11576
    • Discuss
    • 7. Kashundra Jones plans to make a lump sum deposit so that she can withdraw $3,000 at the end of each quarter for 10 years. Find the lump sum if the money earns 10% per year compounded quarterly

    • Options
    • A. 75263.64
    • B. 76345
    • C. 76389
    • D. 56897
    • Discuss
    • 8. 15 semiannual payments are made into a sinking fund at 7% compounded semiannually so that $4850 will be present. Find the amount of each payment rounded to the nearest cent

    • Options
    • A. 251.35
    • B. 245.45
    • C. 235.87
    • D. 251
    • Discuss
    • 9. A retirement benefit of $12,000 is to be paid every 6 months for 25 years at interest rate of 7% compounded semi-annually. Find (a) the present value to fund the end-of-period retirement benefit. (b) the end-of-period semi-annual payment needed to accumulate the value in part (a) assuming regular investments for 30 years in an account yielding 8% compounded semi-annually

    • Options
    • A. 245678
    • B. 234689
    • C. 281468.06
    • D. 234578
    • Discuss
    • 10. Find the finance charge for an average daily balance of $8431.10 with monthly interest rate of 1.4%

    • Options
    • A. 98.04
    • B. 88.04
    • C. 68.04
    • D. 118.04
    • Discuss


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